Posted by jj_mi on 7/18/05 9:43am
Msg #52895

is this legal?

I have a borrower who does not want to let their spouse know the amounts that are bieng paid off through the refi. The spouse has to sign the mortage, RTC and TIL so they know how much the loan is for. They don't want to show them the HUD. What do you think.

Reply by LawrenceOK on 7/18/05 10:02am
Msg #52897

I personally think he/she's a damn fool that will get his/her booty in a world of shizits soon enough. As long as the docs are signed by the proper borrowers, not illegal. If he/she wants to hide the hud, so be it. But I'am leaving when the shizit hits the fan.

Reply by Brian/CA on 7/18/05 10:06am
Msg #52898

Ought to be interesting how she/he accomplishes this.

Reply by LawrenceOK on 7/18/05 10:16am
Msg #52902

especially since They both have to sign the TIL

Reply by TinaG_CA on 7/18/05 10:11am
Msg #52900

I did a refi Weds where the husband was listed as the borrower. The wife signed all the standard DOT, RTC and TIL but she also had to sign the estimated settlement sheet, which of course lists all the payoffs. It will be interesting to see how your borrower does it.

Reply by Teasa/NY on 7/18/05 10:28am
Msg #52903

In NY the HUD is one of the legals to be signed by non-borrowing customer. Don't see who he can do it. The bank will want her sign on the HUD.

Reply by Joan-OH on 7/18/05 10:30am
Msg #52904

I would contact the title company and have the attorney there advise you. I had the same situation where one spouse was buying out the other (divorce situation). Cash out was none of the wife's business per the title company, but the TIL listed the loan amount and she demanded to know what her husband was doing with the extra $10,000. I tried to sign them separately, but this woman would have none of it.

After she was a grade A B#### and about a rude as you could possibly be to me and her husband, she wandered off into the TV room where her teenagers were and I overheard her say "Now would Jesus watch (whatever show was on) that on TV?" I wanted to scream, "probably not, but he wouldn't treat people so crappy either!!!!"

Good Luck. Make that call before you go.

Joan-OH

Reply by jj_mi on 7/18/05 11:46am
Msg #52909

Thanks for the imput. I did speak with the SS and they said it is legal. The borrower will just have to deal with the consequences (at home). This borrower is alot like yours. She and her husband discussed the affiliated busness form as in you have to be careful of what companies you do business with that they hold your same beliefs. Takes all kinds.